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Loans and mortgages.
Trunk_z
Posts: 94 Forumite
Hi all,
This has most likely been asked many times, so apologies for bringing up a topic which has most likely been done to death - honestly, I have found other things around the internet confusing, and I find it easier if I can speak to people, albeit via the keyboard.
Myself and my partner took out a 35 year mortgage last year on our first house together (yay!). It was difficult to get there, but we managed to get on the ladder! We have been happy here for almost a year.
The mortgage we got was a 2 year fixed term, which means next year we will be looking at re-mortgaging (I'm sure I'll create a new thread closer to the time!) to ensure that we are receiving a good deal.
We had a 10% deposit, which made for 90% LTV.
Our current mortgage we sorted out with a broker.
When we got our first mortgage, any outstanding loans that we had were taken off of the LTV thereby reducing it.
My question is, when we come to re-mortgage next year, does this happen again? Will the remainder of our new loans (since having lived in the house) go against us?
For example, since living in the house we have purchased a new car on a PCP, and a 0% loan for new windows.
Do we need to be mindful of the total that we are borrowing for when we re-mortgage?
It has been prompted by looking at getting some solar panels, which will (almost) pay for themselves.
I hope this had been clear enough! Any help would be great!
This has most likely been asked many times, so apologies for bringing up a topic which has most likely been done to death - honestly, I have found other things around the internet confusing, and I find it easier if I can speak to people, albeit via the keyboard.
Myself and my partner took out a 35 year mortgage last year on our first house together (yay!). It was difficult to get there, but we managed to get on the ladder! We have been happy here for almost a year.
The mortgage we got was a 2 year fixed term, which means next year we will be looking at re-mortgaging (I'm sure I'll create a new thread closer to the time!) to ensure that we are receiving a good deal.
We had a 10% deposit, which made for 90% LTV.
Our current mortgage we sorted out with a broker.
When we got our first mortgage, any outstanding loans that we had were taken off of the LTV thereby reducing it.
My question is, when we come to re-mortgage next year, does this happen again? Will the remainder of our new loans (since having lived in the house) go against us?
For example, since living in the house we have purchased a new car on a PCP, and a 0% loan for new windows.
Do we need to be mindful of the total that we are borrowing for when we re-mortgage?
It has been prompted by looking at getting some solar panels, which will (almost) pay for themselves.
I hope this had been clear enough! Any help would be great!
0
Comments
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To remortgage to a new lender will require going through affordability checks. To take a new product with your existing lender will not.0
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